Euro Falls Against Moroccan Dirham, Losing 270 Dirhams per €1,000 Since Early October
The euro’s rebound was short-lived. Between November 5 and 11, 2026, the Moroccan dirham appreciated by 0.9% against the European currency, according to the latest weekly indicators from Bank Al-Maghrib. This marks a reversal after the slight decline recorded the previous week.
On Bladi.net : Euro Rebounds Against Moroccan Dirham After Three-Week Slide
The euro’s reference rate fell from 10.988 dirhams on November 4 to 10.892 dirhams on November 11. For €1,000, the equivalent value thus dropped from 10,988 to 10,892 dirhams, a decrease of 96 dirhams in seven days. For €5,000, the difference comes to 480 dirhams.
This decline more than wipes out the 22-dirham gain recorded the previous week for every €1,000. Since October 7, when the euro was still trading at 11.162 dirhams, its equivalent value has now fallen by 270 dirhams per €1,000. The decline that began in mid-October has therefore resumed after a brief pause.
The dollar moves in the opposite direction
Against the US dollar, the dirham, by contrast, lost 0.3% of its value over the same period. The dollar’s reference rate rose from 9.766 to 9.796 dirhams between November 4 and 11. For $1,000, the equivalent value increases by 30 dirhams.
For Moroccans living abroad, these fluctuations directly affect the value in dirhams of amounts exchanged or transferred to the country. However, amounts calculated using Bank Al-Maghrib reference rates may differ from the amounts actually received, depending on the conversion rates and fees charged by banks and transfer services.
On Bladi.net : Euro to dirham exchange rates: MRE card payment costs revealed
Morocco’s official foreign exchange reserves are continuing to rise. They stood at 515.6 billion dirhams on November 5, up 0.2% in a week and 19.4% year over year. At the end of October, they were equivalent to five months and twenty-nine days of imports of goods and services.
